27/06/2019 - Preliminary data for 2018 show an increase in gross premiums of domestic insurance companies in most countries, especially in the non-life sector, according to OECD's Insurance Markets in Figures. Gross premiums rose in real terms in 28 of the 52 reporting countries in both life and non-life sectors, in 16 other countries in the non-life sector only and in 5 other countries in the life sector only. Premiums declined in both sectors only in Ireland, Finland (where the decline in the non-life sector reflects an organisational rearrangement in the insurance industry though) and Turkey.
Date of publication
31/01/2019 - Gross premiums continued to rise in most countries in the life and non-life insurance sectors in 2017, according to Global Insurance Market Trends. Many of the largest increases occurred in countries with relatively low insurance penetration where the insurance industry is developing. Aggregate trends for the life and non-life insurance businesses may however hide differences in dynamics demonstrated in each type of insurance policy and the risk insured.
About the report
The insurance industry is a major component of the economy by virtue of the amount of premiums it collects, the scale of its investment and, more fundamentally, the essential social and economic role it plays by covering personal and business risks. This annual report monitors global insurance market trends to support a better understanding of the insurance industry's overall performance and health.
The OECD has collected and analysed data on insurance such as the number of insurance companies and employees, insurance premiums and investments by insurance companies dating back to the early 1980s. Over time, the framework of this exercise has expanded and now includes key balance sheet and income statement items for the direct insurance and reinsurance sectors.
This monitoring report is compiled using data from the OECD Global Insurance Statistics (GIS) database. The geographical reach of the GIS database is constantly expanding and now covers 62 countries. In addition to OECD countries, this includes: a number of non-OECD Latin American countries, achieved through cooperation with the Association of Latin American Insurance Supervisors (ASSAL); several non-OECD countries in Asia; as well as Lithuania, South Africa and Tunisia.
This monitoring report and the GIS database provide an increasingly valuable cross-country source of data and information on insurance sector developments for use by governmental and supervisory authorities, central banks, the insurance sector and broader financial industry, consumers and the research community.
See alsoOECD insurance statistics publication